(Central)-1 v. NRA Iron & Steel (P) Ltd.

103 Taxmann.com 48Supreme Court of India2019#76 most cited

What is (Central)-1 v. NRA Iron & Steel (P) Ltd. authority for?

When assessing cash credits, share capital, or loans, the assessee bears the onus to prove the identity, creditworthiness, and genuineness of transactions. This burden is not discharged merely by documentary evidence if field inquiries reveal accommodation entries or dealings with paper/shell companies.

696

judgments rely on this decision, according to BharatTax’s citation analysis of 371,886 Indian tax judgments — from 2011 to 2026.

Also referred to as

NRA Iron & Steel · (Central)-1 v. NRA Iron & Steel · Section 68 · cash credit · share capital · share application money · unexplained loan · onus of proof · creditworthiness · genuineness of transaction · paper company · shell company · accommodation entries

Sections most often in play

Section 68Section 143(3)Section 147Section 10(38)Section 148Section 69CSection 131Section 133(6)

Issues it is cited on

price riggingbogus share capitalbogus long term capital gainonus of proofpenny stockpaper companypreponderance of probabilitycreditworthiness of the creditorsection 10(38)bogus ltcgshell companysource of source

Judgments citing (Central)-1 v. NRA Iron & Steel (P) Ltd.

Pramod Lakra Deputy Commissioner of Income Tax, Circle -11(1), Kolkata vs. Rudramukhi Vintrade Ltd., Kolkata

In the result, the appeal filed by the revenue is allowed for statistical purposes

ITA 136/KOL/2025[2013-14]Status: DisposedITAT Kolkata08 Aug 2025AY 2013-14

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 147Section 148Section 250

…value? 4.On the facts and in the circumstances of the case and in law, whether the Ld. CIT(A) has failed to appreciate the principle which has been laid down by the Hon'ble Supreme Court in the case of Pr.CIT(Central)-1, Kolkata vs NRA Iron & Steel Pvt. Ltd. (412 ITR 161) [2020] 117 taxmann.com 752 (SC). 5. The Ld. CIT(A) has erred in facts and in law in ignoring the judicial principles laid down in the matter of Sumati Dayal v. CIT [1995] 214 ITR 801 (SC). 6. The Ld. CIT(A) has erred in facts and in law in not taking cognizance of the judicial principles laid down in CIT Vs. Durga Prasad More 1973 CTR (SC) 500:…

Alpa Rajendra Jain, Mumbai vs. DCIT Circle 19(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 2762/MUM/2025[2011-12]Status: DisposedITAT Mumbai08 Aug 2025AY 2011-12

Bench: Shri Pawan Singh, Hon'Ble

Section 10(38)Section 254(1)Section 271(1)(c)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL "SMC" BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, HON'BLE JUDICIAL MEMBER ITA No. 2762/MUM/2025 (AY: 2011-12) Alpa Rajendra Jain DCIT, Circle – 19(1), Mumbai Vs Piramal Chambers, Lalbaug, Mumbai - 400012. 2405 Panchratna, M.P. Marg Opera House, Mumbai-400004. [PAN: ACPPJ9850N (Appellant) (Respondent) Assessee Represented by : Ms. Ridhisha Jain, CA (Virtually) Department Represented by : Shri Surendra Mohan, Sr. DR Date of Institution : 22.04.2025 Date of Conclusion of hearing : 24.07.2025 Date of Pronouncement of Order : 08.08.2025 Order under section 254(1) of Income Tax Act PER P…

Rsd Containers Private Limited, Jaipur vs. ITO, Ward 7(1), Jaipur

In the result, the appeal of the assessee is allowed

ITA 1320/JPR/2024[2017-18]Status: DisposedITAT Jaipur06 Aug 2025AY 2017-18
For Appellant: Shri Mukesh Khandelwal, C.AFor Respondent: Mrs. Anita Rinesh, JCIT, Sr.-DR
Section 115BSection 147Section 148Section 149Section 151Section 151ASection 153CSection 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR MkWa- ,l-lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 1320/PR/2024 fu/kZkj.k o"kZ@Assessment Year : 2017-18 cuke RSD Containers Private Limited ITO, Vs. A-129 (N-1), Road No. 9 VKI Ward 7(1), Area, Jaipur 302013 Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAFCR9364Q vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Mukesh Khandelwal, C.A. jktLo dh vksj…

Principal Commissioner of Income Tax 2 Kolkata vs. M/S Zulu Merchandise Pvt Ltd

The appeal is allowed the order passed by

ITAT/88/2025HC Calcutta01 Aug 2025

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

Section 142(1)Section 143(2)Section 260ASection 68

…ITAT NO. 88 OF 2025 REPORTABLE Page 1 of 24 IN THE HIGH COURT OF JUDICATURE AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE RESERVED ON: 23.07.2025 DELIVERED ON:01.08.2025 CORAM: THE HON’BLE THE CHIEF JUSTICE T.S. SIVAGNANAM AND THE HON’BLE JUSTICE CHAITALI CHATTERJEE (DAS) ITAT/88/2025 (IA NO: GA/2/2025) PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL- 2, KOLKATA VERSUS M/S. ZULU MERCHANDISE PRIVATE LIMITED Appearance:- Mr. Vipul Kundalia, Sr. Adv. Mr. Prithu Dudheria, Sr. Standing Counsel. .….For the Appellant. Mr. Agnibesh Sengupta, Adv. Mr. Dwip Raj…

Principal Commissioner of Income Tax 2 Kolkata vs. Minto Park Estates Pvt Ltd

In the result, the appeal is allowed and the order passed by the learned

ITAT/4/2025HC Calcutta01 Aug 2025

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE CHAITALI CHATTERJEE (DAS)

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 260ASection 68

…re premium. Further it is settled law, the initial onus is on the assessee to establish by cogent evidence the genuineness of the transaction and creditworthiness of the investors under 15 [2019] 103 Taxmann.com 48 (SC) ITAT NO. 4 OF 2025 REPORTABLE Page 18 of 22 Section 68. The assessee is expected to establish to the satisfaction of the assessing officer (i) prove of identity of the creditors (ii) capacity of creditors to advance money and genuineness of transaction. The Hon’ble Supreme Court noted the decision in Kale Khan Mohammad…

ITO, Kolkata vs. Blackberry Vyapaar Pvt. Ltd., Kolkata

ITA 1234/KOL/2023[2008]Status: DisposedITAT Kolkata24 Jul 2025

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 143(3)Section 250Section 253Section 68

…hether on the facts and in the circumstances of the case and in law, the Ld. NFAC, New Delhi has failed to appreciate the principle which has been laid down by the Hon’ble Supreme Court in the case of Pr. CIT(Central)-1, Kolkata vs NRA Iron & Steel Pvt. Ltd. (412 ITR 161) wherein it is suggested that the Assessing Officer is duty bound to investigate the creditworthiness of the creditor/subscriber, verify the identity of the subscribers and ascertain whether the transaction is genuine or these are bogus entries of name lenders . In facts of the case, in spite of best efforts made by the assessing officer, he coul…

ACIT-24(1), Mumbai vs. Ramesh Kumar Jain, Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 192/MUM/2025[2019-20]Status: DisposedITAT Mumbai24 Jul 2025AY 2019-20

Bench: Shri Vikram Singh Yadav & Shri Anikesh Banerjeeassessment Year : 2019-20 Acit-24(1), Ramesh Kumar Jain, 601, 6Th Floor, B-502, Oberoi Skyheight, Piramal Chambers, Vs. Cross Road Lokhandwala, Lalbaugh, Parel, Andheri (W), Mumbai-400012. Mumbai-400053. Pan : Adipj4196P (Appellant) (Respondent) For Assessee : Shri Rushabh Mehta For Revenue : Shri Uma Shankar Prasad, Cit-Dr Date Of Hearing : 11-06-2025 Date Of Pronouncement : 24-07-2025 O R D E R Per Vikram Singh Yadav, A.M : This Is An Appeal Filed By The Revenue Against The Order Of The Ld. Commissioner Of Income Tax(Appeals)-48, Mumbai [„Ld.Cit(A)‟], Dated 29-11-2024, Pertaining To Assessment Year (Ay) 2019-20, Wherein The Revenue Has Taken The Following Grounds Of Appeal:

For Appellant: Shri Rushabh MehtaFor Respondent: Shri Uma Shankar Prasad, CIT-DR
Section 131Section 133(6)Section 147Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “D” BENCH : MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER Assessment Year : 2019-20 ACIT-24(1), Ramesh Kumar Jain, 601, 6th Floor, B-502, Oberoi Skyheight, Piramal Chambers, vs. Cross Road Lokhandwala, Lalbaugh, Parel, Andheri (W), Mumbai-400012. Mumbai-400053. PAN : ADIPJ4196P (Appellant) (Respondent) For Assessee : Shri Rushabh Mehta For Revenue : Shri Uma Shankar Prasad, CIT-DR Date of Hearing : 11-06-2025 Date of Pronouncement : 24-07-2025 O R D E R PER VIKRAM SINGH YADAV, A.M : This is an appeal filed by the Rev…

Mallya Real Estates P.Ltd, Delhi vs. ITO, Ward-16(2), New Delhi

ITA 6158/DEL/2017[2013-14]Status: DisposedITAT Delhi18 Jul 2025AY 2013-14

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Amit Katoch, Sr. DR
Section 131Section 68

…ITA No. 6158/DEL/2017 [A.Y. 2013-14] Mallya Real Estates Pvt Ltd Vs. The I.T.O IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E' BENCH, NEW DELHI BEFORE MS. MADHUMITA ROY, JUDICIAL MEMBER, AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITA No. 6158/DEL/2017 [A.Y. 2013-14] Mallya Real Estates Pvt Ltd Vs. The I.T.O 103, Triveni Complex 2 Veer Savarkar Block, Madhuban Road Near Nirman Vihar Metro Station, Delhi Ward -16(2) New Delhi PAN - AAICM 0912 C (Applicant) (Respondent) Assessee By : Dr. Rakesh Gupta, Adv Shri Somil Aggarwal, Adv Shri Deepesh Garg, Adv Department By : Shri Amit Katoch, Sr. DR Date of Hearin…

Sulphur Securities Private Limited, Faridabad vs. ITO Ward-24(3), New Delhi

Appeal is dismissed

ITA 1210/DEL/2023[2012-13]Status: DisposedITAT Delhi16 Jul 2025AY 2012-13

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2012-13 Vs. Income Tax Officer, Sulphur Securities Pvt. Ltd., 3198/15, 4Th Floor, Gali No.1, Ward-24(3), Sangatrashan, Paharganj, New Delhi New Delhi Pan: Aaqcs9353M (Appellant) (Respondent) Assessee By None Department By Sh. Mahesh Kumar, Cit(Dr)

Section 139Section 143(3)Section 147Section 148Section 151Section 68

…assessee’s huge share premium involved herein as it is found to be a company incorporated on 03.02.2012 only. We thus quote Sumati Dayal Vs. CIT (1995) 214 ITR 801 (SC), CIT Vs. Durga Prasad More (1971) 82 ITR 540 (SC) and PCIT Vs. NRA Iron & Steel Co. (2019) 412 ITR 161 (SC) to conclude that we must appreciate the said evidence in light of human probabilities and after removing all bilkers and mere submission of documents does not discharge the onus of proving genuineness, to uphold the learned lower authorities’ action making the impugned additions in the assessee’s hands. Ordered accordingly. 8. This assessee’…

Sajal Impex Pvt. Ltd., Kolkata vs. ITO, Ward 12(1), Kolkata

The appeal of the assessee is allowed

ITA 265/KOL/2025[2012-13]Status: DisposedITAT Kolkata15 Jul 2025AY 2012-13

Bench: Shri Duvvuru Rl Reddy & Shri Rakesh Mishraay 2012-13 Income Tax Officer, Sajal Impex Pvt. Ltd. Ward 12(1), 4, Synagogue Street, Vs. Aaykar Bhawan, Kolkata-700001, West Bengal P-7, Chowringhee Square, (Pan: Aahcs5794D) Kolkata-700069, West Bengal (Appellant) (Respondent) Present For: Appellant By : Shri Miraz D Shah, Ar Respondent By : Shri S.B. Chakraborty, Dr Date Of Hearing : 17.06.2025 Date Of Pronouncement : 15.07.2025 O R D E R Per Rakesh Mishra: This Appeal Filed By The Assessee Is Against The Order Of National Faceless Appeal Centre (Nfac), Delhi (Hereinafter Referred To As “The Ld. Cit(A)”) Passed U/S. 250 Of The Income Tax Act, 1961 (Hereinafter Referred To As “The Act”) For Ay 2012-13 Dated 28.11.2024. 02. The Grounds Of Appeal Raised By The Assessee Are Reproduced As Un- Der:

For Appellant: Shri Miraz D Shah, ARFor Respondent: Shri S.B. Chakraborty, DR
Section 133(6)Section 139(1)Section 142(1)Section 147Section 148Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH KOLKATA BEFORE SHRI DUVVURU RL REDDY, VICE PRESIDENT AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER AY 2012-13 Income Tax Officer, Sajal Impex Pvt. Ltd. Ward 12(1), 4, Synagogue Street, Vs. Aaykar Bhawan, Kolkata-700001, West Bengal P-7, Chowringhee Square, (PAN: AAHCS5794D) Kolkata-700069, West Bengal (Appellant) (Respondent) Present for: Appellant by : Shri Miraz D Shah, AR Respondent by : Shri S.B. Chakraborty, DR Date of Hearing : 17.06.2025 Date of Pronouncement : 15.07.2025 O R D E R PER RAKESH MISHRA, ACCOUNTANT MEMBER: This appeal filed by the assessee is against…

Shyama Shree, Asansol vs. I.T.O., Ward - 1(1), Asansol

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 967/KOL/2025[2013-2014]Status: DisposedITAT Kolkata09 Jul 2025AY 2013-2014

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 143(3)Section 147Section 148Section 250Section 69A

…elying upon the decisions of the Hon'ble Supreme Court and various Hon'ble High Courts in the cases of i) Rajmeet Singh Vs ITO (2024) 160 Taxmann 83 (Jharkhand), ii) PCIT Vs NRA Iron and Steel (P) Ltd (2019) 103 Taxmann 48 (SC), iii) CIT Vs Durga Prasad More, 83 ITR 540 SC, iv) Roshan Di Hatti vs. Commissioner of Income-tax [1977] 107 ITR 938 (SC)[08-03-1977] and v) Kale Khan Mohammad Hanif Vs CIT (1963) 50 ITR 1 (SC) and as the assessee had failed to discharge the primary onus to prove the identity, creditworthiness of the creditor and the genuineness of the transaction therefore, the Ld. CIT(A) treated a sum of…

Pramod Lakra, Deputy Commissioner of Income Tax, Circle 11(1), Kolkata vs. M/S. Amicus Healthcare Services & Solutions Pvt. Ltd., Kolkata

Appeal of the revenue is dismissed

ITA 2572/KOL/2024[2013-14]Status: DisposedITAT Kolkata09 Jul 2025AY 2013-14

Bench: SHRI GEORGE MATHAN, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 143(2)Section 148Section 148ASection 250Section 68

…ered. 5. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) has failed to appreciate the principle which has been laid down by the Hon'ble Supreme Court in the case of Pr.CIT(Central)-1, Kolkata vs NRA Iron & Steel Pvt. Ltd. (412 ITR 161) [2020] 117 taxmann.com 752 (SC). 6. Whether on the facts and circumstances of the case, the Hon'ble High Court has committed substantial error in law in not following the judicial Principles laid down in the matter of Pr. CIT2, Kolkata(C)-2, Kolkata Vs M/s BST Infratech Ltd.in [2024] 161 taxmann.com 688 (Calcutta) dated 23.04.2024, which is an e…

Eastern and Western Dresses Trading Private Limited, New Delhi vs. ITO Ward-8(1), New Delhi

Appeal is dismissed

ITA 1939/DEL/2020[2011-12]Status: DisposedITAT Delhi03 Jul 2025AY 2011-12

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanassessment Year: 2011-12 Vs. Income Tax Officer, M/S. Eastern & Western Dresses Trading Pvt. Ltd., Ward-8(1), No. 7, Shankar Vihar, New Delhi New Delhi Pan: Aabce5153G (Appellant) (Respondent) Assessee By None Department By Sh. Rajesh Kumar Dhanesta, Sr. Dr

Section 143(3)Section 68

…application money or share capital or loans by way of accommodation entries Creditworthiness is not established. Addition is held to be justified. (Followed PCIT v. NDR Promoters Pvt Ltd (2019) 410 ITR 379 (Delhi)(HC) & PCIT v. NRA Iron & Steel Pvt Ltd) 2019) 103 Taxmann.com 48 (SC) followed) (ITA No. 4778/Del/2013, dt. 08.03.2019)(ΑΥ. 2006-07) 6.8 ITO v. Yadu Steels & Power Pvt. Ltd. (Delhi) (Trib), S. 68: Cash credits- Share capital - In the case of a Private company, onus is on assessee to prove identity, creditworthiness of subscribers and most importantly genuineness of transactions- Even if AO does not make…

Income Tax Officer-1, Morena vs. Shri Agrasen Logistics, Jotai Road, Porsa

In the result, the appeal of the Revenue is dismissed

ITA 108/AGR/2025[2022-23]Status: DisposedITAT Agra24 Jun 2025AY 2022-23

Bench: Shri Sunil Kumar Singh & Shri Manish Agarwal

Section 143(2)Section 143(3)Section 250Section 68

…ITA No.108/AGR/2025 ITO Vs. Shri Agrasen Logistics THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH: AGRA BEFORE SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.108/AGR/2025 (ASSESSMENT YEAR: 2022-23) Income Tax Officer-1 Morena, (M.P.) Shri Agrasen Logistics, In front of Old Rajput Vs. Hotel, A.B. Road, Morena-476001 (M.P.) (Appellant) PAN-AEIFS3236E (Respondent) Assessee by Shri Sudhir Sehgal Adv. & Shri Ashok Vijaywargiya, CA Department by Shri Sukesh Kumar Jain, CIT- DR Date of Hearing 21/05/2025 Date of Pronouncement 24/06/2025 ORDER PER MANISH AGARWAL, AM: This appeal i…

ITO, Ward-5(1), Kolkata vs. M/S. Shivrashi Infraprojects Private Limited, Kolkata

In the result, the appeal filed by the Revenue is allowed for statistical purposes

ITA 2328/KOL/2024[2012-13]Status: DisposedITAT Kolkata18 Jun 2025AY 2012-13

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 143(3)Section 250Section 68

…lue? 5. On the facts and in the circumstances of the case and in law, whether the Ld. CIT(A) has failed to appreciate the principle which has been laid down by the Hon'ble Supreme Court in the case of Pr. CIT(Central)-1, Kolkata vs NRA Iron & Steel Pvt. Ltd. (412 ITR 161) [2020] 117 taxmann.com 752 (SC). 5.. The Ld. CIT(A) has erred in facts and in law in not appreciating the judicial principles laid down in the matter of Pr. CIT Vs. Swati Bajaj reported in 2022 SCC Online 1572 (Cal) wherein the Hon'ble High Court at Calcutta I.T.A. No.: 2328/KOL/2024 Assessment Year: 2012-13 M/s. Shivrashi Infraprojects Private…

M/S. Super Shiv Shakti Minchem Pvt. Ltd., Jodhpur vs. ITO, Ward-3, Bhilwara

In the result, both the above appeals filed by the Assessee are dismissed

ITA 21/JODH/2018[2009-10]Status: DisposedITAT Jodhpur17 Jun 2025AY 2009-10

Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)

For Appellant: Shri Goutam Chand Baid, C.AFor Respondent: Shri Karni Dan, Addl. CIT (Sr. D.R)
Section 147Section 148Section 6Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, DIVISION BENCH, JODHPUR HEARING THROUGH: VIRTUAL MODE BEFORE: SHRI. LALIET KUMAR, JM & DR. MITHA LAL MEENA, AM ITA Nos. 20 & 21/Jodh/ 2018 Assessment Year : 2008-09 & 2009-10 M/s Super Shiv Shakti Minchem Vs. The ITO Pvt. Ltd. Ward-3, Bhilwara C-111, Shastri Nagar, Bhilwara PAN NO: AALCS8492A Appellant Respondent Assessee by : Shri Goutam Chand Baid, C.A Revenue by : Shri Karni Dan, Addl. CIT (Sr. D.R) Date of Hearing : 21/05/2025 Date of Pronouncement : 17/06/2025 आदेश/Order PER LALIET KUMAR, J.M: Both the above appeals filed by the Assessee against the separate order of…

M/S. Super Shiv Shakti Minchem Pvt. Ltd., Jodhpur vs. ITO, Ward-3, Bhilwara

In the result, both the above appeals filed by the Assessee are dismissed

ITA 20/JODH/2018[2008-09]Status: DisposedITAT Jodhpur17 Jun 2025AY 2008-09

Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)

For Appellant: Shri Goutam Chand Baid, C.AFor Respondent: Shri Karni Dan, Addl. CIT (Sr. D.R)
Section 147Section 148Section 6Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, DIVISION BENCH, JODHPUR HEARING THROUGH: VIRTUAL MODE BEFORE: SHRI. LALIET KUMAR, JM & DR. MITHA LAL MEENA, AM ITA Nos. 20 & 21/Jodh/ 2018 Assessment Year : 2008-09 & 2009-10 M/s Super Shiv Shakti Minchem Vs. The ITO Pvt. Ltd. Ward-3, Bhilwara C-111, Shastri Nagar, Bhilwara PAN NO: AALCS8492A Appellant Respondent Assessee by : Shri Goutam Chand Baid, C.A Revenue by : Shri Karni Dan, Addl. CIT (Sr. D.R) Date of Hearing : 21/05/2025 Date of Pronouncement : 17/06/2025 आदेश/Order PER LALIET KUMAR, J.M: Both the above appeals filed by the Assessee against the separate order of…

Accrecent Way Marketing (P) Ltd., Guwahati vs. Deputy Commissioner of Income Tax, Circle-3, Guwahati

ITA 358/GTY/2018[2010-11]Status: DisposedITAT Guwahati09 Jun 2025AY 2010-11

Bench: Shri Manomohan Das & Shri Rakesh Mishra

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 251Section 68

…r own, each one of them received from somebody and that somebody received from a third person and therefore prima facie, shareholders are near namelenders. 22. In Principal Commissioner of Income Tax, (Central - 1) v. NRA Iron and Steel Private Limited (2019) 15 SCC 529 the issue which fell for consideration is when share capital/premium is credited in the Books of Account of the assessee company, the onus of prove is on the assessee to establish by cogent and reliable evidence of the identity of the investor company, the creditworthiness of the investor and I.T.A. No.: 358/GTY/2018 Assessment Year: 2010-11 Accre…

Navansh Vinimay Pvt. Ltd., Kolkata vs. I.T.O., Ward - 8(2), Kolkata

In the result, the appeal of the assessee is dismissed

ITA 724/KOL/2022[2012-2013]Status: DisposedITAT Kolkata30 May 2025AY 2012-2013

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 142(1)Section 143Section 143(2)Section 143(3)Section 147Section 148Section 151Section 250

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA श्री जॉजज माथान, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 724/KOL/2022 Assessment Year: 2012-13 Navansh Vinimay Pvt. Ltd. I.T.O., Ward-8(2), Kolkata Vs. (Appellant) (Respondent) PAN: AACCN9210E Appearances: Assessee represented by : None. Department represented by : Yogesh Mehare, Sr. DR. Date of concluding the hearing : March 5th, 2025 Date of pronouncing the order : May 30th, 2025 ORDER PER…

Income Tax Office Ward-7(1), Delhi vs. Durga Agencies Pvt. Ltd, Delhi

In the result, appeal of the Revenue is partly allowed

ITA 5423/DEL/2024[2017-18]Status: DisposedITAT Delhi27 May 2025AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2017-18] Ito, Vs Durga Agencies Pvt.Ltd., Ward-7(1), 27/94 B Ground Floor, Tikona Delhi Park, Jwala Nagar, Shahdara, East Delhi-110032. Pan-Aaacd4709 Appellant Respondent Revenue By Shri Rajesh Kumar Dhanesta, Sr.Dr Assessee By Ms. Vaishnavi Yadav, Adv. Date Of Hearing 27.05.2025 Date Of Pronouncement 27.05.2025

Section 142(1)Section 143(3)Section 250Section 271ASection 68

…he Revenue’s stand, on the other hand, is that it was the assessee’s onus only to plead and prove all the relevant facts by satisfying the genuineness/creditworthiness of its explanation tendered during scrutiny as per PCIT v. NRA Iron & Steel Pvt. Ltd (2019) 412 ITR 161 and Sumati Dayal Vs. CIT (1995) 214 ITR 801 (SC). We find that the Revenue’s instant substantive ground that the assessee had failed to explain the source of these cash sales out of regular trading activity in dry fruits and kirana items on wholesale and retail basis found some force as the assessee claimed major sales in the month of October, 20…